Taiwan's Foxconn is set to agree on Wednesday to acquire Sharp Corp, gaining a big discount to its original offer after a month of wrangling about potential liabilities that sowed more doubt about whether the two firms will be able to work well together.
The companies are due to hold separate board meetings on Wednesday in which they are expected to approve the deal, sources familiar with the negotiations said, declining to be identified as they were not authorised to speak to the media.
Foxconn, formally known as Hon Hai Precision Industry Co, is likely to cut its initial 489 billion yen (US$4.3 billion) offer for a two-thirds stake by about 100 billion yen, sources have said.
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The companies are due to hold separate board meetings on Wednesday in which they are expected to approve the deal, sources familiar with the negotiations said, declining to be identified as they were not authorised to speak to the media.
Foxconn, formally known as Hon Hai Precision Industry Co, is likely to cut its initial 489 billion yen (US$4.3 billion) offer for a two-thirds stake by about 100 billion yen, sources have said.
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